Finance Committee 09/28/2026

The City of Westfield, Indiana Finance Committee met on September 28, 2026, to discuss several key financial and procurement-related topics. The meeting included a detailed budget update highlighting challenges with the new automated budget submission process and the need for transparency regarding total budget figures, including debt service payments and internal fund transfers. The committee discussed the importance of clear communication to taxpayers about these budget components. Additionally, the committee reviewed the investment and treasury governance policy, with plans to update and certify the policy, including a quarterly review process and involvement of financial partners. The policy is to be reviewed by outside counsel before being drafted as an ordinance for council approval by year-end. The meeting also covered the appropriations report, addressing overspending in certain departments such as public works and Grand Park, and internal accounting issues related to salary splits and fund transfers. The committee emphasized managing expenses within budget limits and improving internal controls. Finally, discussions included strategies for better timing of bond proceeds investments to avoid negative fund balances. No formal votes were recorded, but several action items were assigned, including policy review and ordinance drafting.